UNITED KINGDOM -- Elementis plc has sold Harcros Chemicals, the Group's U.S. chemical-distribution business headquartered in Kansas City, Kan., for approximately L23.0 million ($33 million U.S). The purchaser is HCI Acquisitions Inc., a newly established company in which the current senior management of Harcros has a partial interest. Harcros has strong coverage in the Midwest and employs about 440 people.
Commenting on the sale, Jonathan Fry, chairman of Elementis, said, "The board believes that by selling Harcros, Elementis will be able to focus more clearly on its core specialty-chemicals businesses, making the company more attractive to investors."
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